By Jack Stubbs
On Friday, January 11th, a mixed-use property in West Seattle sold for $10.7 million, according to public records filed with King County. The buyer was Cohanim 6040 Cali LLC, an entity based in Seattle, and the seller was CRE 6040 Partners LLC, which shares the same address as Seattle-based Cadence Real Estate, which specializes in the development of multifamily properties throughout the Seattle area.
Cadence Real Estate did not respond to requests for comment about the transaction in time for the publishing of this story.
The subject property, located at 6040 California Ave. SW between the Seaview and Fairmount Park neighborhoods in West Seattle, is a four-story mixed-use property constructed in 1992 that totals 26,438 square feet, according to public documents. The property includes 25 condo units that average 872 square feet.
It is not entirely clear how much space is currently available in the property. According to Google Maps, some of the current tenants include a child care agency, Aldaris CPA Group, Computer Service Solutions LLC and West Seattle Coworking.
The property is approximately one mile north of Lincoln Park and roughly seven miles southwest of downtown Seattle via State Route 99.
Founded in 2008, Cadence Real Estate focuses on acquiring under-utilized, multifamily assets and development sites with the mission of generating above market returns for its investors, according to the company’s web site. Since the company’s founding, it has completed over thirty multi-family projects with a current portfolio value in excess of $185 million.